The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s next generation sequencing market report forecasts the next generation sequencing market size to grow to $17.32 Billion by 2027, with a CAGR (compound annual growth rate) of more than 13%.

Learn More On The Next Generation Sequencing Market Report 2023 – https://www.thebusinessresearchcompany.com/report/next-generation-sequencing-global-market-report

Next Generation Sequencing Market Size Forecast
The global next generation sequencing market is expected to grow from $9.22 billion in 2022 to $10.44 billion in 2023 at a compound annual growth rate (CAGR) of 13.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global next generation sequencing market size is expected to grow to $17.32 billion in 2027 at a CAGR of 13.5%.

North America held the largest next generation sequencing market share.

Key Next Generation Sequencing Market Driver ­– Growth In Number Of Cases With Chronic Conditions Such As Cancer, AIDS, And Thalassemia
Chronic illnesses and disorders are on the rise around the world, an aging population and shifts in social behavior lead to a gradual increase in these widespread and expensive long-term medical issues. Next-generation sequencing (NGS) is a versatile development tool utilized by researchers and clinicians across various cancer studies to recognize biomarkers that give guidance on treatments. The prevalence of chronic diseases is also expected to increase significantly, according to the World Health Organization. Hence, the increase in the number of chronic disease cases will increase the requirement for NGS sequencing and boosts revenues for the next-generation sequencing market.

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Key Next Generation Sequencing Market Trend – Technological Advancement
Major companies operating in the sequencing industry are focusing on developing technologically advanced solutions for next-generation sequencing. For instance, in 2020, Thermo Fisher Scientific introduced hematology-oncology assays for the Ion Torrent Genexus System, which authorize simultaneous analysis of DNA mutations and RNA fusion transcripts in myeloid samples in a single day and also enabled further in which turnaround times for next-generation sequencing (NGS) results could be reduced to less than 24 hours. It also offers researchers the ability to profile 40 DNA targets and 29 fusion driver genes, authorizing observing more than 600 fusion isotypes to recognize biomarkers associated with myeloproliferative neoplasm, acute myeloid leukemia.

Next Generation Sequencing Market Segment
1) By Product: NextSeq Systems, MiniSeq Systems, NovaSeq Systems, iSeq 100 Systems, Ion PGM Systems, Ion Proton Systems, Ion GeneStudio S5 Systems, PacBio RS II Systems, Sequel Systems, Other Products
2) By Technology: Sequencing by Synthesis, Ion Semiconductor Sequencing, Single-molecule Real-time Sequencing, Nanopore Sequencing, Other Sequencing Technologies
3) By Application: Diagnostics, Drug Discovery, Other Applications

Next Generation Sequencing Market Major Players and Strategies
Major players in the next generation sequencing market are Illumina Inc., Thermo Fisher Scientific Inc., BGI Group, Agilent Technologies Inc., Qiagen N.V., Hoffmann-La Roche AG, Eurofins Scientific, Oxford Nanopore Technologies, Pacific Biosciences, and 10x Genomics.

The Next Generation Sequencing Global Market Report 2023 covers regional data on next generation sequencing market size, next generation sequencing market trends and drivers, opportunities, strategies, and next generation sequencing market competitor analysis. The countries covered in the next generation sequencing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Next-generation sequencing is a sequencing technology that offers ultra-high throughput, scalability, and speed. The technology is used to determine the genetic variation associated with diseases or other biological phenomena.

View More Reports Related To The Next Generation Sequencing Market –
Clinical Oncology Next Generation Sequencing Global Market Report 2023
Precision Medicine Global Market Report 2023
Single Cell Analysis Global Market Report 2023

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